logo
Nilai businessman loses RM1.5 million in fake investment scam

Nilai businessman loses RM1.5 million in fake investment scam

NILAI: A businessman in his early 50s lost over RM1.5 million after falling for a fake investment scheme promoted through social media.
Nilai police chief Superintendent Abdul Malik Hasim said the victim met the scammer on Facebook in April and was lured by promises of high returns.
"The businessman lodged a police report at the Pantai police station about 4.20pm yesterday, stating that he began dealing with the individual offering the online investment scheme on April 29," he said in a statement today.
The victim was instructed to download a mobile application called 'CDT MAX' and make 15 transactions totalling RM1,449,750 to seven different bank accounts for the so-called investment.
He only realised he had been scammed when he was asked to make further payments to withdraw the supposed profits.
The case is being investigated under Section 420 of the Penal Code for cheating, and efforts are underway to track down the suspect.
Police urge the public to verify any investment offers with authorities and never share bank details with unknown individuals.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Brothers charged with kidnapping and causing hurt to man in Puchong
Brothers charged with kidnapping and causing hurt to man in Puchong

The Star

time30 minutes ago

  • The Star

Brothers charged with kidnapping and causing hurt to man in Puchong

The accused being taken to court on July 28. They claimed trial to the charges. – BERNAMApic SHAH ALAM; Two siblings pleaded not guilty in the Magistrate's Court here on Monday (July 28) to kidnapping and voluntarily causing hurt to a man last week. Lorry attendant V. Kirtik Ram, 19, and despatch rider V. Theshvinram, 18, were jointly charged with abducting a 21-year-old local man with the intention of secretly and wrongfully confining him. The charge, under Section 365 of the Penal Code, provides for a maximum prison sentence of seven years and a possible fine upon conviction. For the second charge, they were jointly charged under Section 323 of the same law with voluntarily causing hurt to the same individual. They face a maximum prison sentence of one year, or a fine of up to RM2,000, or both if convicted of the offence. Both offences were allegedly committed at Jalan Persiaran Permai, Bukit Puchong, Puchong, near here at 6.38pm on July 22. The brothers were allowed bail of RM5,000 each for the kidnapping charge and RM2,000 each for causing hurt. The court set Sept 8 for mention. – Bernama

Median wage in Malaysia's formal sector hits RM3,000 in Q1 2025
Median wage in Malaysia's formal sector hits RM3,000 in Q1 2025

The Sun

time30 minutes ago

  • The Sun

Median wage in Malaysia's formal sector hits RM3,000 in Q1 2025

PUTRAJAYA: The median monthly wage for Malaysia's formal sector increased by 5.5 percent to RM3,000 in March 2025, up from RM2,844 a year earlier, according to the latest report from the Department of Statistics Malaysia (DOSM). Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin attributed the rise to sustained economic growth and the revised minimum wage policy. The formal sector workforce stood at 6.8 million, with men making up 55.1 percent and women 44.9 percent. While the median wage for male employees remained steady at RM3,000, female employees saw a 6.5 percent increase to RM2,982. Younger workers under 20 recorded the highest wage growth at 13.3 percent, reaching RM1,700, partly due to the reintroduction of the minimum wage policy. The mining and quarrying sector led with a median wage of RM8,800, though it represents only 0.6 percent of formal employment. In contrast, the agriculture sector remained the lowest at RM2,200. Regionally, Kuala Lumpur topped the list with RM4,445, followed by Selangor at RM3,300, while Sabah, Kelantan, and Perlis reported the lowest wages. Income disparity persists, with the top 10 percent earning six times more than the bottom 10 percent. However, the share of workers earning below RM2,000 fell to 27.4 percent, down from 31.2 percent in 2024. - Bernama

Median monthly wage for formal sector rises to RM3,000 in Q1 2025: DOSM
Median monthly wage for formal sector rises to RM3,000 in Q1 2025: DOSM

Daily Express

time30 minutes ago

  • Daily Express

Median monthly wage for formal sector rises to RM3,000 in Q1 2025: DOSM

Published on: Monday, July 28, 2025 Published on: Mon, Jul 28, 2025 By: Bernama Text Size: For illustrative purposes only. PUTRAJAYA: The median monthly wage for Malaysia's formal sector rose 5.5 per cent to RM3,000 in March 2025, up from RM2,844 a year earlier, according to the Employee Wages Statistics (Formal Sector) Report for the First Quarter of 2025, released by the Department of Statistics Malaysia (DOSM) today. In a statement today, Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the increase reflects the country's continued economic growth and the impact of the revised minimum wage policy, which has positively influenced the labour market. As of March, he said the formal sector workforce stood at 6.8 million, comprising 55.1 per cent men and 44.9 per cent women. The median wage for male employees remained at RM3,000, while female employees saw a 6.5 per cent increase to RM2,982, compared to a 3.4 per cent rise for men. The highest year-on-year wage growth was recorded among workers under 20, with their median wage rising 13.3 per cent to RM1,700, largely driven by the reimplementation of the minimum wage policy in February. However, a slight drop was observed in the number of workers aged 20 to 24. He added that the mining and quarrying sector posted the highest median wage at RM8,800, although it accounted for just 0.6 per cent of total formal employment. The agriculture sector remained the lowest, with a median wage of RM2,200. Geographically, the Federal Territory of Kuala Lumpur recorded the highest median monthly wage at RM4,445 in March 2025, followed by Selangor at RM3,300. At the other end of the spectrum, Sabah posted a median wage of RM2,000, while Kelantan and Perlis recorded the lowest at RM1,800. Mohd Uzir said 27.4 per cent of Malaysian formal sector workers earned below RM2,000 per month as of March, down 3.8 percentage points from 31.2 per cent in the same month last year. He added that a percentile analysis revealed workers in the bottom 10th percentile earned RM1,700 or less, while those in the top 10th percentile earned at least RM11,000 per month. 'This reflects an income gap where the top 10 per cent earn six times more than the bottom 10 per cent,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store